What Are the Annual Reporting Requirements for 501c3 Nonprofits?

A question we often hear from our clients is, “What are the reporting requirements for a nonprofit?” Maybe you’re on the fence about starting your nonprofit, maybe you already have a nonprofit but you still need 501c3 tax-exempt status, or maybe you’re just trying to grow your nonprofit. Either way, you’re probably wondering what the reporting requirements are. Here are three things you need to do to make sure you stay in compliance with the IRS every year.

1. File your annual report.

The first thing you will need to do every year is file your annual report. This is something that you file with your state each year along with the filing fee, which outlines your organization’s financial conditions and operations from the past year. In many states, you can do all of this online but check with your Secretary of State for the details.

2. File your nonprofit tax return.

The next thing you’re going to do is file your nonprofit tax return. This is typically a form 990 with the IRS, which is filed with the federal government. This form allows the IRS and the public to evaluate a nonprofit’s operations, including its mission, program, and finances. 

3. Renew fundraising license.

Depending on how your nonprofit is structured you may or may not need to do this. If your organization does fundraising you will need to renew your fundraising registration or your solicitation license. The requirements for charitable solicitation vary from state to state so you need to make sure you’re in compliance with your state’s laws when renewing your fundraising license.

Your state may have some other filing requirements that you have to do each year, but these are the basic requirements. Don’t let this list intimidate you if you’re wanting to get started! If you need help with any of your filings, reach out to our team at Chisholm Law Firm. We will handle all of your filings so you can focus on changing the world.



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